One Response to 401k Trivia

After reading this book I felt like I had a very solid klnowedge of Roth IRA’s and how they work. Ive been a Roth IRA investor/contributor since they became law in 1998. However, one of the areas I struggled with was whether or not toconvert traditional IRA funds to my Roth account. This bookcovered the greatest detail of this and even what the tax implications would be. ie. . . can the tax be payed with mynext years return or must it be payed now to avoid penalies. One thing I never considered was if I didn’tconvert and my income went over the threshold allowed by law to convert, I would lose the opportunity to convert the money in the future.The book covers investing too but is somewhat limited in that area as it mainly is a book of what the Roth is and whatthe laws are regarding it. Basically, the investing part states Grandmas common sense of diversification. All in all a pleasant read on what can be a somewhat boring topic.